Want to learn if you might be eligible for a refund of over paid taxes?
This video is for you!
Our very own Certified Financial Planner®, Tamara Carman, talks about uncovering over $150,000 for our clients over the past 2 years and how many didn’t even know they were entitled to a refund.
These returns are so easy to claim… but they are also so easy to miss!
If you have direct shares or other investments outside superannuation then you may be able to claim back the franking credits relating to these investments.
So who exactly is Frank?
Franking credits represent the underlying tax paid by a company on pre-tax profits from which any dividends were paid.
They may reduce the amount of tax you pay on dividend income or in the case of retirees where there is little or no other taxable income, claim them back as a refund.
The franking concept was introduced to prevent double taxation, however, once retired we are finding that people stop doing a tax return all together and therefore fail to recover excess tax paid.
If you want to find out more, or to see if you are eligible for a refund, we encourage you to contact our office.